Monday, June 21, 2021
Home Technology Lenovo Rides Work-From-Home Demands to Post 512 Percent Q4 Profit Growth

Lenovo Rides Work-From-Home Demands to Post 512 Percent Q4 Profit Growth


China’s Lenovo Group on Thursday posted a better-than-expected rise of 512 percent in fourth-quarter profit, as more consumers working and studying from home powered demand for the world’s biggest maker of personal computers.

Profit for the quarter ended March 31 jumped to $260 million (roughly Rs. 1,890 crores), above an average estimate of $204.7 million (roughly Rs. 1,490 crores) from seven analysts, according to Refinitiv data.

Revenue rose 48 percent to $15.63 billion (roughly Rs. 1,13,470 crores) from $10.58 billion (roughly Rs. 76,780 crores) a year earlier. Analysts expected a revenue of $14.33 billion (roughly Rs.1,04,000 crores). Pandemic-fuelled buying of laptops, televisions, and personal gadgets have propped up sales of various electronic companies including rival Samsung Electronics.

Lenovo said in a statement its board recommended a final dividend of 24 Hong Kong cents per share for the year ended March 31. In 2020, it paid 21.5 cents (roughly Rs. 15) per share. According to research firm Gartner, worldwide shipments of personal computers rose nearly a third in the March quarter, following a weak 2020 base, the fastest year-over-year growth since Gartner began tracking the PC market two decades ago. Lenovo strengthened its lead in PCs with a quarter of share of the market, ahead of HP with 21.4 percent and Dell with 16.5 percent, Gartner said.
 

© Thomson Reuters 2021


It’s Google I/O time this week on Orbital, the Gadgets 360 podcast, as we discuss Android 12, Wear OS, and more. Later (starting at 27:29), we jump over to Army of the Dead, Zack Snyder’s Netflix zombie heist movie. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.



Source link

RELATED ARTICLES

OnePlus Nord CE 5G vs OnePlus Nord Comparison: Finding the Better Nord

The OnePlus Nord CE 5G is the latest addition to the OnePlus lineup, and will appeal to people on a budget since it...

Samsung Odyssey G3, Odyssey G5, Odyssey G7 Launched: All You Need to Know

Samsung Odyssey G3, Samsung Odyssey G5, and Samsung Odyssey G7 gaming monitors have been unveiled. Samsung Odyssey G3 comes in 24-inch and 27-inch...

Mi TV Webcam With Full-HD Video Calling Support Debuting on June 24

Mi TV Webcam is set to launch in India on Thursday, June 24, Xiaomi announced on Monday. The new device will come...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Petrol, Diesel under GST: HC asks Centre to decide – Times of India

KOCHI: The Kerala high court has asked the central government to decide on a representation seeking to bring petroleum products under goods and...

Government eases listing norms for companies having over Rs 1 lakh crore m-cap – Times of India

NEW DELHI: Companies that have a market capitalisation of more than Rs 1 lakh crore at the time of listing can now sell...

Mukesh Ambani says no option but to make businesses green – Times of India

NEW DELHI: Asia's richest man Mukesh Ambani on Monday said there is no option for businesses but to go green and every unit...

SAT upholds Sebi’s fines on Rana Kapoor, two other entities – Times of India

NEW DELHI: The Securities Appellate Tribunal (SAT) has upheld regulator Sebi's orders imposing a fine of Rs 1 crore on former Yes Bank...

Recent Comments